Website is down. Company seems to be out of business.
Join live discussion of forexwealth.com on our forumGo to forums
Your company video here? Contact ad sales
- Not guilty0
I paid $3500.00 on Aug. 2007 for Scott's mentoring program thru Rio Financial Group(payable thru Sierra Sky LP). Though I was new to Forex, I trusted his Christian belief and his resume. He uses ProAct charts. Since I was new to Forex, I accepted everything Scott said as gospel. But as the mentorship continued, I noticed several suspicious comments and inconsistencies. Besides the fact that he is very difficult to communicate with..(he cuts you off fast, and talks over you, then complains that I am asking too many questions..like I was an idiot.), he makes claims that are hard to believe. For example, ProAct has bee thru several changes since Aug 2007. Namely, Wild Card trade. He claims that he had over 70 trades without a loss using the new WC trade system. Obvious question?? He ought to be a millionaire just on WC trades, but he's not. Be claims to invent "T30" line, yet XTick.com (original charting feed) has the same T30 line...Hummm??? Since I paid for a life time mentoring program, I thought I could ask anything and learn from his experience. Several times, I asked him exactly how and when he trades..He never answered..until after I asked him numerous times that I discerned he trades few hours at NY opening. That' my guess. I still don't know since he never answered. Those of you who claim Scott as such success, I like to know exactly how?? You can email me at email@example.com or call me at 714-353-6460. I finally gave up on him and asked for a refund. I have yet to receive a reply one way or another, and have cut off all communication with me. What a fine Christian example much less a responsible mentor who was paid $3500.00. If Scott is reading this, maybe he'll respond to me now.
Went through same course with one of his associates (aspenforex.com). Its basically entering breakouts on shorter time frames to enter longer term trends. Don't need their charts for that. Not apparent that they are actually making that much money trading. As a professional trader, It usually pretty evident who's doing really well trading and who's not. Only thing going for them is that they want you to focus on the bigger picture longer timeframe
Scott is a great salesman and recruiter...End of story. He can teach you ABOUT Forex trading, but will not be able to teach how to make money. I see absolutely no evidence that he is able to trade profitably over any length of time. What I have seen are his naive, overconfident students blowing out account after account. You can learn ABOUT Forex training anywhere. Learn from my mistake...this man does not deserve your money.
Scott is a great guy and I had fun taking the course, but after the roller coaster stops and the excitement is over you are not really left with much. The course teaches you to use software ($200/month) that has 27 indicators turning over and MA's sloping in your trade direction for buy and sell signals. Scotts technicals consist of trading within a 4 hour channel (watching for trend wall crashes), Fibo's, and holding out for large price moves. Scott promises unlimited courses, but you need to be subscribed to ProAct charts...as if he would offer unlimited courses for free right? Taking into account that you can just sign up with ProAct and get 90% of the course information for free, this course is of little value.
I went through Scott's course last year. I will give him credit by saying that he is a good teacher. What I learned in his class opened my eyes to techinical analysis. With that said, the course is entirely too expensive. I could have learned everything he taught by checking out a couple of books at the library for free. The charts and signals he peddles for 200 bucks a month are fairly basic. You get a buy signal when there's a moving average cross up and a sell when they cross back down. Nothing too complicated and certainly not worth 200 dollars a month. The charts are good though, but you can probably find them cheaper somewhere else. Although, they are very hard to trade off of because the chart price won't be the same as the broker price and you lose critical pips. Also, if you've read other posts you know that he used to be a mentor for CFG which was recently shut down by the NFA. He learned everything he knows from Don...including his illegal behavior. Scott will constantly be talk about how he helps orphans in Romania and prays before every meal. From what I've heard, the crooks at CFG also did the same thing and would prey off of Christians who thought they could trust them. I have no respect for Scott or his partner and I'm just glad I never gave him money to invest...which is what other's have done. He's very carful though not to solicit you for money. He'll make side comments about how other's give him money and how much they make. I guess in hopes that you'll ask him to invest the money. This way it's more of a loan and not an investment. His best friend is also being investigated by the SEC for doing the same stuff Scott is doing. The best friend was also a mentor at CFG. I think a lot of the reviews at the bottom were written by Scott, so I wouldn't trust the 4 star rating. One last thing that irked me was the fact that he never traded live. I went to several seminar's and he always traded dummy account. I would venture to say that Scott's never made a penny from trading and has only made money from teaching. Anyways, good luck in your search for forex knowledge.
Any serious trader should take this workshop. I got all the information that I was missing from this workshop. Before I could see candles stopping at certain positions and I wondered why. Now I know why and I can predict the stops. From this workshop I learned to think what the bankers are thinking and I also learned some useful trading systems.
An important part of the workshop was that Scott used the market of the day to demonstrate his teaching, so things made sense and came alive. The education does not stop just at the end of the workshop. I received emails and web sites for reviews and more insights, and there is tune-up meetings to analyze the current market. I don't know where else I could get this kind of training and education. I recommend taking this workshop as soon as possible.
From Scott Re: Derrick: I left CFG quite some time ago and am no longer affiliated with them for various reasons. I do not use ANY of their methodology, nor their charts and the company I use for charting does NOT charge $300 a month for charts.
Scott is (or was) affiliated with Concorde Forex Group (www.cfgtrading.com). He was one of the top recruiters for this company. Their company sucks, and my only advice to you is, make sure you due your homework before getting involved with Scott. If they want to you spend $300 per month for charting services, walk away. The methodology that CFG teaches does not work...plain and simple. Another question to ask is: how much is the training. CFG charges $5500 for their course.
In the review of another extremely high priced course, someone mentioned about two stand up guys leaving, and Scott is one of them. This gentleman is class and honesty personified. He is a successful trader first and mentor second. He has on-going support once you have taken the course and this is all you will ever need to learn to successfully trade forex. I would not hesitate to recommend Scott or course to anyone. Thanks.
2006-09-11 update To "Bob and Anonymous" that worked with Scott at CFG. I met Scott through CFG and took the course and now his current system. If I were never introduced to Scott's current system and had only taken the CFG course, I would have some negative things to say, as this system is a joke for the money in my opinion. HOWEVER, PRIOR to my taking the new course, I would question things to Scott about CFG that were not positive inquiries, and Scott NEVER lied to me with his answers. For example: Paying $350 a month for these morons that call out trades and 60% of the time they were losers as I tracked all of them. Don Snellgrove surely tried to cushion these disastrous results, which were the reason charts fees were increased to $349/month. Now that I am trained in Scott's current method, I have not had a losing week of trading since May and that's b/c I was incorporating other methodologies into my trading due to confidence issues. Once I made the decision to be my own trader, b/c I felt I had superior training and superior software, my results have been nothing less than stellar. Need proof? I am a subscriber to King Forex run by Dmitri and Rob, and I am very active in that room with my analysis and trades. Lastly, I spoke to a plethora of people at CFG PRIOR to my paying $5510 for the course. This includes my $10 wire fee. Not one of the CFG people I spoke to had ANYTHING negative to say about Scott or any other "mentor" for that matter, and that the CFG house accounts are kicking ass, etc. Scott leaves and now he's a scammer. Well, why didn't anyone call out Scott as this was happening, specifically when I conducted my due diligence? Seems kind of suspect to me, especially if you knew he was lying to potential clients, this makes BOTH you "Bob and Anonymous" guilty of participating in a conspiracy, but definition.
I would give more than 5 stars if possible! After a year of disappointment with another company, I have found forexwealth to be better than I expected. Scott Barkley is a successful trader and, more important, an excellent TRAINER! The follow-up training goes on and on. I recommend it to anyone who is serious about making money in the Forex. My wife and I took the training and found it to be excellent! The software and system is much easier to understand and use than what we used previously. We recommend it highly!